Which entity has supervisory and regulatory authority for mortgage licensees in North Carolina?

The North Carolina Commissioner of Banks (NCCOB) is the entity responsible for the supervisory and regulatory authority over mortgage licensees in the state. This includes oversight of mortgage lenders, brokers, and loan originators to ensure compliance with state laws and regulations. The NCCOB is tasked with protecting consumers and ensuring a fair and transparent mortgage lending process.

The agency conducts examinations and audits, enforces compliance with applicable laws, and has the authority to take disciplinary actions against licensees who violate regulations. By regulating the mortgage industry within North Carolina, the NCCOB plays a crucial role in maintaining the integrity of the lending environment in the state.

Other entities, such as the Federal Housing Administration (FHA) and the Consumer Financial Protection Bureau (CFPB), have regulatory functions as well, but their authority extends beyond just North Carolina and often involve federal guidelines rather than state-specific oversight. The NC Division of Banks does oversee banks and other financial institutions, but in the context of mortgage licensees, the NCCOB is specifically designated for that role within the state.